A rate of return falling from 8 per cent to 4.8. A net present value moving from positive 600 billion baht to negative 10,287 million. Two feasibility studies that disagreed for years, and a committee that finally chose between them. Thailand has stopped its trillion-baht Land Bridge and named a 110 km railway in its place. A rate of return falling from 8 per cent to 4.8. A net present value moving from positive 600 billion baht to negative 10,287 million. Two feasibility studies that disagreed for years, and a committee that finally chose between them. Thailand has stopped its trillion-baht Land Bridge and named a 110 km railway in its place. MCG reads the decision past the announcement: whose arithmetic won, what the replacement has not been through, and why it is being built to a gauge that cannot serve its own purpose.